M-SERVICES: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
M-SERVICES
Largest movements
- Cash -€24,063
down €24,063 (-20.6%), from €116,701 to €92,638
mainly Trade debts (-€41,440) and Other debts (-€14,624)
- Tangible fixed assets -€18,076
down €18,076 (-5.0%), from €364,926 to €346,851
of which Land and buildings: -€10,765
- Receivables within one year +€10,319
up €10,319 (+32.8%), from €31,476 to €41,795
of which Trade receivables: +€9,315
- Trade debts -€41,440
down €41,440 (-98.2%), from €42,184 to €744
- Reserves +€40,000
up €40,000 (+23.6%), from €169,706 to €209,706
of which Distributable reserves: +€40,000
- Other debts -€14,624
down €14,624 (-17.7%), from €82,428 to €67,804
- Debts after one year -€12,263
down €12,263 (-6.6%), from €184,589 to €172,325
- Taxes -€3,409
down €3,409 (-17.5%), from €19,436 to €16,027
- Gross operating margin -€3,261
down €3,261 (-3.2%), from €102,972 to €99,711
- Depreciation +€2,484
up €2,484 (+10.7%), from €23,309 to €25,793
- Financial charges -€2,045
down €2,045 (-21.9%), from €9,357 to €7,312
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €516,169 | €484,758 | -€31,411 | -6.1% |
| Fixed assets | 21/28 | €364,926 | €346,851 | -€18,076 | -5.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €364,926 | €346,851 | -€18,076 | -5.0% |
| Land and buildings | 22 | €208,938 | €198,173 | -€10,765 | -5.2% |
| Plant, machinery and equipment | 23 | €30,104 | €31,541 | +€1,437 | +4.8% |
| Furniture and vehicles | 24 | €25,667 | €21,628 | -€4,039 | -15.7% |
| Other tangible fixed assets | 26 | €100,218 | €95,509 | -€4,709 | -4.7% |
| Current assets | 29/58 | €151,243 | €137,907 | -€13,335 | -8.8% |
| Amounts receivable within one year | 40/41 | €31,476 | €41,795 | +€10,319 | +32.8% |
| Trade receivables | 40 | €30,064 | €39,379 | +€9,315 | +31.0% |
| Other amounts receivable | 41 | €1,411 | €2,416 | +€1,004 | +71.2% |
| Current investments | 50/53 | €1,000 | €1,005 | +€5 | +0.5% |
| Cash at bank and in hand | 54/58 | €116,701 | €92,638 | -€24,063 | -20.6% |
| Deferred charges and accrued income | 490/1 | €2,066 | €2,469 | +€403 | +19.5% |
| Total equity and liabilities | 10/49 | €516,169 | €484,758 | -€31,411 | -6.1% |
| Equity | 10/15 | €182,154 | €222,815 | +€40,661 | +22.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €169,706 | €209,706 | +€40,000 | +23.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €846 | €846 | = | 0.0% |
| Distributable reserves | 133 | €167,000 | €207,000 | +€40,000 | +24.0% |
| Profit (loss) carried forward | 14 | €48 | €710 | +€661 | +1367.2% |
| Amounts payable | 17/49 | €334,015 | €261,943 | -€72,072 | -21.6% |
| Amounts payable after more than one year | 17 | €184,589 | €172,325 | -€12,263 | -6.6% |
| Financial debts | 170/4 | €184,589 | €172,325 | -€12,263 | -6.6% |
| Amounts payable within one year | 42/48 | €143,400 | €84,105 | -€59,295 | -41.3% |
| Current portion of amounts payable after more than one year | 42 | €12,043 | €12,263 | +€220 | +1.8% |
| Trade debts | 44 | €42,184 | €744 | -€41,440 | -98.2% |
| Suppliers | 440/4 | €42,184 | €744 | -€41,440 | -98.2% |
| Taxes, remuneration and social security | 45 | €6,745 | €3,294 | -€3,451 | -51.2% |
| Taxes | 450/3 | €4,434 | €3,294 | -€1,141 | -25.7% |
| Remuneration and social security | 454/9 | €2,311 | €0 | -€2,311 | -100.0% |
| Other amounts payable | 47/48 | €82,428 | €67,804 | -€14,624 | -17.7% |
| Accrued charges and deferred income | 492/3 | €6,027 | €5,513 | -€514 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,309 | €25,793 | +€2,484 | +10.7% |
| Other operating charges | 640/8 | €3,056 | €2,092 | -€964 | -31.5% |
| Gross operating margin | 9900 | €102,972 | €99,711 | -€3,261 | -3.2% |
| Operating profit (loss) | 9901 | €76,606 | €71,826 | -€4,781 | -6.2% |
| Financial income | 75/76B | €5 | €8 | +€3 | +50.3% |
| Recurring financial income | 75 | €5 | €8 | +€3 | +50.3% |
| Financial charges | 65/66B | €9,357 | €7,312 | -€2,045 | -21.9% |
| Recurring financial charges | 65 | €9,357 | €7,312 | -€2,045 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €67,255 | €64,521 | -€2,733 | -4.1% |
| Income taxes | 67/77 | €19,436 | €16,027 | -€3,409 | -17.5% |
| Profit (loss) for the period | 9904 | €47,819 | €48,494 | +€675 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €47,819 | €48,494 | +€675 | +1.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.